Commodities
Binance Accounts at Center of Alleged $1.5 Billion Iran Money-Laundering Network
US prosecutors are targeting $61 million in cryptocurrency linked to a network that allegedly laundered over $1.5 billion in Iranian oil proceeds through Chinese intermediaries and Binance accounts.
The case, which began with a civil forfeiture complaint filed in September 2026, accuses the network of moving money from sanctioned Iranian oil sales to buyers in China.
Prosecutors say that more than $1.5 billion flowed through the network, which involved converting traditional currency into cryptocurrency and transferring digital assets through different wallets and accounts.
Binance is not accused of wrongdoing in the case, but its platform features prominently in the financial trail under investigation.